More trouble for the Waterloo phonemaker:
Research In Motion is likely to report a disappointing February quarter according to Jeffries & Company analyst Peter Misek, and the company may soon pre-announce results as a warning. ”We are cutting our RIM estimates and target based on our belief that there is a greater than 50% chance that RIM will negatively pre-announce the February quarter,” Misek wrote in a note to investors on Thursday. “We believe sales of both RIM’s low-end and higher-end phones continue to be challenged.”
“We believe higher-end handsets are doing poorly outside of Enterprise sales with continued iPhone 4S and Android momentum (especially Samsung) causing issues,” Misek noted, adding that the launch of the iPhone 5 ahead of RIM’s first BlackBerry 10 handset will be “particularly troubling.”
What’s “particularly troubling” is that RIM’s board replaced the company’s disgraced co-CEOs with a “steady-as-she-goes” captain.